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CNBC
Sep 12, 2012 4:00pm EDT
los angeles turned into a scene out of a robin hood movie. the story behind the incredible chase. tdd#: 1-800-345-2550 you should've seen me today. tdd#: 1-800-345-2550 when the spx crossed above its 50 day moving average, tdd#: 1-800-345-2550 i saw the trend. tdd#: 1-800-345-2550 it looked really strong. tdd#: 1-800-345-2550 and i jumped right on it. : 1-50 since i've switched to charles schwab... tdd#: 1-800-345-2550 ...i've been finding opportunities like this tdd#: 1-800-345-2550 a lot more easily. tdd#: 1-800-345-2550 like today, tdd#: 1-800-345-2550 i was using their streetsmart edge trading platform tdd#: 1-800-345-2550 and i saw a double bottom form. tdd#: 1-800-345-2550 so i called one of their trading specialists tdd#: 1-800-345-2550 and i bounced a few ideas off of him. tdd#: 1-800-345-2550 they're always there for me. tdd#: 1-800-345-2550 and i've got tools that let me customize my charts tdd#: 1-800-345-2550 and search for patterns as they happen. tdd#: 1-800-345-2550 plus webinars, live workshops, research. tdd#: 1-800-345-2550 whatever i need. tdd#: 1-800-345-2550 so wh
CNBC
Sep 3, 2012 3:00pm EDT
. today you could be in the outskirts of houston or los angeles. it's almost like it's an enclave within saudi arabia. it's--different from the rest of the country. >> yes, that's true, because-- >> very different. it kept a lot of the american ways. >> yes, of course. >> but blocked off from the rest. >> they are good ways. there's nothing wrong with it. these were their excellent ways. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we follow the flow of big oil from massive, mega billion dollar oil fields in saudi arabia to the u.s. where wall street refines the oil into a mega billion dollar commodity. we begin with a look back to 2008 when the price of oil, theoretically tied to supply and demand, suddenly became untethered. storage tanks were full, yet the price skyrocketed from $69 a barrel to nearly $150 before it plummeted along with the stock market. there are lots of theories about what triggered the price rise. as steve kroft reported in 2009, many people believe it had more to do with wall street speculation than with oil companies. >> to understa
CNBC
Sep 28, 2012 2:00pm EDT
is simple in los angeles, right? that seems tonight code. i want to give you this one. how about a city council vote on a new stadium project that might get sued and the company set to build it just announced it's trying to sell itself? you get that, mandy? you following? >> i'm following. >> that's what's happening. today l.a. city council will vote on a $1.5 billion deal put forth by aeg, an entertainment group which recently let it be known it wants to sell its sprawling sports empire which includes the staples center and l.a. kings. privately financed by aeg would get a few hundred million in city-issued bonds to redevelop the convention center area. that would be paid back in lease payments and tax revenue. now don't forget jobs here. aeg estimates 10,000 temp ones to build and 4,000 permanent once when done. the lawsuits could come from environmental and anti-poverty groups that feel their interests are underserved or ignored on this project which would border the lovely staples center. the goal has been to get the nfl on the field in l.a. by 2017. that's pretty aggressive. a
CNBC
Sep 10, 2012 3:00pm EDT
your wallet? here's your invoice. >>> welcome back. steve wynn is $30 million richer in los angeles. big jury award. jayne wel jane wells. >> jury ordered joe francis to pay steve wynn $20 million in a slander lawsuit brought by the casino owner. francis said wynn wanted him killed and buried in the desert over a $2 million gaming debt. wynn's $20 million win is on top of $9.5 million francis has already been ordered to pay wynn in two previous lawsuits going back to 2008. so, wynn is 3-0 in court. the key witness in this case was quincy jones, whom francis said showed him e-mails proving wynn wanted him dead. jones testified he never said that, no e-mail was produced so apparently what happens in vegas sometimes ends up in court in los angeles. >> holy cow. he only asked for $12 million and he got $20 million. that's amazing. >> $12 million in compensatory and punitive. so $20 million is the total gift. >> now he has to collect it. >> thank you. >> thank you. >> good luck with that. >>> another market monday. dow trying stay out of the red for the 13th monday in the last 14. not looking
CNBC
Sep 9, 2012 6:00am EDT
melissa lee. these are the traders here in times square and in beautiful los angeles. think the market was quiet? think again. huge moves today for banks and materials. the rally is finally broadening out. central banks seemingly in the bag, how long can this last? let's find out. of course, among the big gainers of the week, bank of america, up 10% this week. freeport, caterpillar all having some huge days. are you finally a believer? have you come around, dan? >> i mean, listen. the price action this week was amazing. to me it's the technical setup is what really happened about. we talked about it earlier in the week here. you know, guys were gunning against this double top. you know, it acted like a coiled spring. it didn't take a heck of a lot of news. one point here. what did the ecb do? they announced one of the most telegraphed bond-buying plans that were helping to stop systemic risk to the system, okay? >> uh-huh. >> so today we have this -- we basically the market consolidated a little bit, and we saw the names that you talked about. >> right. >> we saw the broadening
CNBC
Sep 28, 2012 6:00am EDT
generally more business friendly federal court. millions of dollars are at stake. and finally, los angeles county is taking the lead in what could be a landmark environmental case. does the clean water act make local governments responsible for controlling storm water pollution runoff. that's your q4 channel check for cn cnbc. >> now to our trading block to find out what could be ahead for the investors. joining us is scott bower, senior market strategist from trading advantage. we've been trying to figure out why wr we are for the year. where does it stand roughly for the first three quarters? >> obviously everything is pretty good right new. i'd say the trend is still pretty bullish to the up side. the reason i say that is going into corporate earnings coming up here, we've seen so much that has already been lowered. so much guidance that has been lowered that it looks like the beats coming forward will far youth weigh the misses. so that may carry us through the election time, but let me tell you something, with volatility the way it is and the vix being where it is, traders and investors are
CNBC
Sep 3, 2012 12:00pm EDT
two. >> two. >> two. >> for two days. >> two and a half. >> this was los angeles, where 37,000 homeowners gathered. and this was miami, where the worry was visible and shared by 12,000 more. the line went down the block and doubled back twice. dale defreitas lost her job. now she fears her home is next. >> it's very emotional, because i just think about, "i don't want to lose my home." i really don't. >> it's your american dream. >> it was. and it still is. [chuckles] >> welcome to naca, "save the dream." welcome, everybody. >> these convention center events are put on by the nonprofit neighborhood assistance corporation of america, which helps people figure out what they can afford and then walks them across the hall to bank representatives to ask for lower payments. more than half will get their mortgages adjusted, but the rest discover that they just can't keep their home. and for many, that's when the real surprise comes in. turns out, these banks, which demand borrowers have all of their paperwork just right, these same banks have fouled up their own paperwork to a histori
CNBC
Sep 4, 2012 3:00pm EDT
continue. julia boorstin in los angeles, thank you. >>> we're coming back with the clothes countdown for this tuesday. >>> then donald trump takes aim at opec. listen to this. >> opec can't wait. they are so greedy, they just keep going and they don't care. they'd love to see obama get in. they are dying to have obama get in but they can't wait that extra 70 days. >> is trump right? former shell oil president john huffmeiser weighs in and why he thinks you'll soon be shelling out $5 a gallon for gasoline. [ male announcer ] if you believe the mayan calendar, on december 21st polar shifts will reverse the earth's gravitational pull and hurtle us all into space. which would render retirement planning unnecessary. but say the sun rises on december 22nd, and you still need to retire. td ameritrade's investment consultants can help you build a plan that fits your life. we'll even throw in up to $600 when you open a new account or roll over an old 401(k). so who's in control now, mayans? >>> okay. starting off the month of september. three minutes left in the trading session. let's do a quick
CNBC
Sep 11, 2012 4:00pm EDT
york, london, miami, los angeles, paris, you name it. >> so we still have obviously a lot to do. >> logistics. it's not just their using missiles, it's their handing material off to terrorists. >> that's extraordinary. these pictures we were showing from 9/11, they're very, very difficult to watch. it's actually amazing we survived what we did. let me switch gears a bit, if you'll allow me to. i want to get your take on an important event in chicago. it's teachers in chicago on strike right now. the issues are not new. we're talking about pay, benefits, evaluating teachers. what's your reaction to what's going on in chicago? >> first of all, i wouldn't say teachers. i'd say the teachers union. i personally don't believe teachers have the right to strike. i don't think the police do, the army. i worked for ronald reagan. when the air traffic controllers went on strike, he said let me see the oath. how can i allow them to go on strike? suppose the army goes on strike. suppose the police go on strike. teachers shouldn't be able to go on strike. they should have compulsory bargainin
CNBC
Sep 20, 2012 2:00pm EDT
-- he is the manliest man in the los angeles bureau. that is video editor robert simons. they don't get any more macho than that. >> jane, great stuff. >>> now to the three most awesomest videos of the day. first up, this is kind of the opposite of fun. this ride at california's knotsbury farm just stopped. stuck there with 20 people stuck 300 feet in the air for three hours. they finally made it back to the ground. no one was hurt, just kind of annoyed. >>> and file this one under the most awesome animal rescuing another animal video. baby goat is struggling to swim in a petal zoo pond but then jumps in a hero pig who plays lifeguard and nudges the goat to shore. and this is my most favorite animal story of the year -- let's take a look at the adorable swimming koala. for those of you who know anything about koalas, normally they typically drown in water. this one however spotted some guys who were out canoeing on gold coast of australia. he took to the water, swam over to them. they pulled him into the canoe. gave him a little cuddle. he happily just left them do that, then he was put
CNBC
Sep 12, 2012 3:00pm EDT
baby drill in the u.s. >>> meantime, a lot of people in los angeles came out to watch this car chase because the driver was throwing mope. what's that all about? ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ for the spender who needs a little help saving. for adding "& sons." for the dreamer, planning an early escape. for the mother of the bride. for whoever you are, for whatever you're trying to achieve, pnc has technology, guidance, and over 150 years of experience to help you get there. ♪ oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're d
CNBC
Sep 20, 2012 6:00am EDT
want to say aig. aeg could fetch $6 billion in sale. aeg is part owner of the los angeles lakers, l.a. kings, and other sports properties. >>> bank of america is said to be speeding up previous job cuts. the bank will cut 16,000 jobs by year end. >>> our guest host is one of the world's largest short sellers but he goes, you go long on certain things. >> yes, we have a hedge fund. >> famed hedge fund manager jim chenos, founder of kinikos associates. kinikos has greek origin and did it mean anything? >> well it's the root of the word cynic but i'm also half irish so it means you really shouldn't listen to me at all when it comes to finance. >> i've got some irish, too. let's just leave it at that. >> cynical. >> we have to start with china i think, and we're still in a period where everybody can see that something's happening over there, but the consensus is, always has been and still is that it's not, nothing really that major, nothing really that big to worry about. if you noticed that, people finally will concede yeah, okay, but they're the same people that say china has got it dow
CNBC
Sep 19, 2012 6:00am EDT
subsidiary up for sale, owns hockey los angeles kings and the staples center arena. also a part owner of the lakers. also owns the new barclays center arena in new york. >> and they were behind the michael jackson concert tour. and were involved in the crazy dispute over his insurance and his death and they knew he was having all these problems and it was a fascinating little story. >> our guest host today is jack welch, founder of the jack welch management institute. that's all we're going to say about you? >> does he need an introduction? >> no, not really. took ge -- what is your favorite thing? ge was split adjusted less than $1 a share when you took over and it went to $60,ink, didn't it? >> went up from $13 billion in market cap to over $400 billion. >> revenue went from $8 billion to -- >> from $20 billion to $150 billion. >> 150 -- westing house, i always pointed to how it can make a difference who's ceo. and you got paid a lot. you're a fat cat. but -- >> good morning. >> think about westing house, same mix of assets at the same time. i hit wx in there all the tile. westing h
CNBC
Sep 12, 2012 2:00pm EDT
francisco and los angeles. but they're adding a-380 service into los angeles, they do that out of new york city, you see dallas and houston there, expect to see chicago, second-tier cities, about 15 all together, mandy, when with it is all said and done. here is the head of emirates talking to what they try to bring to the table for customers. >> obviously our passengers value what we do. the value proposition is an extremely good one. we don't charnel for food or amenities or baggage or whatever. we provide so much of the product free of charge with regard to just the add-on costs. you pay a fare. we think we -- our fares are reasonable, they're very competitive, but you get a lot more in the value in the fare proposition. >> pretty straightforward. did you hear what he said? you don't have to pay for food. you don't get nickelled and dimed to death. yes, you are not going to find cheap discount fares on emirates. that said, you know that when you get on that plane, you are treated probably better than you are on almost any other airline. >> they're really known for their great service. i
CNBC
Sep 19, 2012 9:00am EDT
center and los angeles kings and hoping to bring the nfl back to los angeles. it would garner a lot of money, conceivably, jane wells, wouldn't it? it's a big potential price tag. >> this could end up being bigger than the dodgers sale based on the real estate alone. it's a sprawling empire co-owning the l.a. kings and it also owns lchl a. live next door with the nokia theater. the company is in the middle of a long, frugal process to build a million dollar-plus football stadium in l.a. and selling the naming rights to farmers insurance. even though it's believed aeg would not break ground until the nfl agrees to bring a franchise back and then there is aeg's concert business. >>. >> one more time. the company was going to sponsor michael jackson's comeback tour and just last week dropped its insurance claim because of the singer's death. it had a piece of the film "this is it" which grossed $72 million. it owns the galaxy, david beckham's team and why sell now? we don't know if there are issues behind the scenes, but you can say the company is at the top of its game. the kings worth a
CNBC
Sep 18, 2012 1:00pm EDT
. jane wells is in los angeles hatching that story for us. >> whether or not you pay tax better start saving for the super bowl party now aft the break, we look at wing price and production costs and ask why did the chicken prices cross the road? to get to the other side of negative margin, when we come back. >>> a chicken in every pot, maybe no the usd a. what released its latest poultry outlook and jane wells has the skinny on the impact of high feed praises. >> chicken wing prices are flying, doubling in a year to $1.84 are a pound. david mall tony of the american restaurant association says they traded at their third highest level ever, $1.95. the whole bird is going higher. this is $1.49 a pound. so, why are poultry producers cutting production? even though corn is below 7.50, chicken prices are not high enough to cover that >> we expect those cuts to accelerate late near the year and that should translate into price increases on the order of 10% plus in 2013. >> costco says many poultry vendors begging for a break on their contracts and asking 7% more for chicken. company's will
CNBC
Sep 13, 2012 1:00pm EDT
francisco, new york city, san jose, california and los angeles. that all according to trulia.com. it does give people more purchasing power when the rates stay low. the question is how much lower will they go because as of now, those low rates are not producing the type of mofrt applications that we would like to see. >> indeed, diana, very good point. thank you. >>> two big names in defense and aerospace getting hammered today over worries that a merger may make the new company just too big to manage. can bae and eads fly? phil lebeau is back in chicago and joins us with details. hi, phil. >> hi, sue. a lot of skepticism out there. let's start with eads. the stock down 10% today. it was hammered basically from the start in europe. it's not as bad but similar with bae systems, down about 6% on the day. the questions that are coming out of europe primarily today follow a couple of analysts over there who have cut their ratings for bae and eads basically on skepticism that this deal is going to produce the benefits that many people have initially thought. the analysts are concerned abo
CNBC
Sep 24, 2012 4:00pm EDT
conference in los angeles, head of double line capital says he's upping the reward for more than a dozen rare paintings stolen from his house in west l.a. earlier this month. he had earlier offered $200,000 for information leading to the safe return of this. he's now upped it significantly for specific paintings. here's what he had to say. >> $1 million for the undamaged return of this picture by piet mundrian, successfully undamaged. in addition, i'm offering a $500,000 reward for the successful return undamaged or information leading to the successful return undamaged of this work by jasper johns called green target and these two artworks by joseph cornell. >> award money now totals $1.7 million for the successful and undamaged return of painting from gundlach's home. $5 million were stolen from his house, including a red porsche, watches, but it's the artwork he's most fond of. we asked if it was insured. he would not comment. he only said about the investigation they're looking at, quote, a couple of avenues and they're hopeful. >> thank you so much. let's go over to jackie d'angelo
CNBC
Sep 14, 2012 1:00pm EDT
boorsten is live in los angeles with answers to that. hi, julia. >> hi, sue. online gambling is still illegal here in the u.s., but if zynga can convert even a small percentage of its international players to paying gamblers, that would mean a big boost to its bottom line. shares spiking sharply after the company hired online gambling exec to be chief operating officer of a division for new markets, saying she is a strong advocate of integrating social features into real money offerings. in july, ceo mark pingas says the company plans to launch into the gaming markets in the first half of 2013 subject to licensing approvals. zynga has the biggest free online poker game in the world. 35 million play zynga poker every month according to app data. it recently added bingo and soon will launch slots. the challenges here are we have to remember many. fragments regulation across europe plus a number of established rivals. the real opportunity may lie here in the u.s. where online gambling is still illegal, but zynga and some others are lobbying for regulatory change. tyler, if zynga did have
CNBC
Sep 5, 2012 6:00am EDT
oscar, jerry? >> he's the king. when i see him at los angeles, i go over and take a napkin and serve him. >> he's trying to disarm you before tonight. >> jerry is very, very disarming. three and a half hours tonight we're going to be competitors but we're as close as anybody in the nfl can be. i admire jerry, i'm a big jerry jones fan. i think what he has done for the league, for the state of texas, for the city of dallas is just unbelievable. he's a great first class guy. >> steve, be sweet to me. >> the football giants are coming strong. you're not worried yet they're going to ever be america's team, are you? i'm trying to get something started between these two. >> well, you don't have to go very far. we have enough facing us here in the next few hours. one of the reasons i wand to be part a part of the nfl 25 years ago was because of the great tradition that the new york giants, for instance, represent. boy, i'm telling you, when i'd come to new york and see how this city gets around and gets excited for nfl football, it made me want to somehow get a part of that. here we are kic
CNBC
Sep 13, 2012 9:00am EDT
. thank you very much. >>> want to go to los angeles and julia boorstin has more news on nintendo. >> more detail about the new tv program they're offering. it's a technology that's offered for free with all of its wii u consols. this will allow users to search across video on demand platforms. that means it's integrating hulu plus, netflix, amazon and also, your dv rr. search all of your video content in one place. go and watch different kinds of content. it also allows users to create individual profiles, nintendo will remember what kinds of shows you like and make recommendations based on those references. this puts them in direct competition with microsoft with their, box 360 and sony with their playstation. they're both trying to be the entertainment hub for their living room. this shows the video game makers are try dog more than just games. carl? >> shows how many choices we're going to have in the future as they try to win the living room. >>> still to come, we'll be joined by a member of the joint member's advisory council. what's truly amazing about mercedes new mbrace2
CNBC
Sep 6, 2012 9:00am EDT
, from los angeles. >> verifone shares are down sharply after reporting weaker than expected third-quarter number. the credit card swipe machine citing swings and competition in europe. joining us is doug bergeron, chairman and ceo of verifone. it's a pleasure to speak with you. >> good morning, melissa. >> your stock has had a terribly painful six months, stock down 24%, not even including the 10% decline we're seeing in today's session. i want to go to what a lot of critics say. the bears and shorts will say that perhaps the industry is in a structural decline right now. how can you possibly xaet with competitors like foursquare who are giving away their hardware for free when you're reliant on selling your hardware? >> square is a payment processor. let me tell you where we stand in the industry. we have 20 million of the 45 million lanes in the world running verifone systems. all of these new payments entrance, isis, google, paypal, they want to co-exist and verifone has cut deals with all of them. we're allowing them to get wide proliferation at millions of places to pay, and
CNBC
Sep 20, 2012 9:00am EDT
people out in chicago, and a number of people here in los angeles, that because of the market manipulation that is taking place, it's highly unlikely and therefore not probable we'll get that 1% prince tht this year. so i was wrong. >> i think the moment you decided that was the moment the fed spoke, right? it was a week ago thursday. >> again, in early -- in early july, when i joined you from europe and we were talking about the many problems in europe and some of the things that were happening, since then obviously you've had the ecb tell you they're going to do whatever they have to do. i think really here it's this idea that true price discovery in the bond market is not occurring. and in any market, whether it be stocks, equities, bonds, options, commodities, future, when manipulation and true price discovery is not there, fundamental cases, and in this case fundamental cases just won't prevail. >> the same thing can be said about some strategists who cover equities and who've had to say the same thing in the last week, gary. talk to you in a few. gary kaminsky in l.a. >>
CNBC
Sep 12, 2012 9:00am EDT
the big routes on the east coast. big presence on the west coast between san francisco, los angeles, and seattle. in the middle of the u.s., houston and dallas, expect them to add chicago and probably another eight cities, carl. what we're going to see from emirates is a full-on press over the next five years to make the u.s. a major destination or a place where they can take their passengers to the middle east. and what we're seeing in washington today, we're going to see that replicated many more times in the years to come. >> fascinating wrinkle. phil lebeau back at hq today. >>> michael kors not only a household name in the fashion world, but back in november, stock's up over 100%. he wrapped up fashion week and joins us this morning with simon hobb. >> welcome backstage at new york fashion week. michael kors completed their fashion show. the man that bears the business name joins us. welcome to cnbc. >> thank you very much. great to be here. >> congratulations. what are you laying out? as you look at the pictures of the fashion show, what are you laying out that you believe people w
CNBC
Sep 7, 2012 3:00pm EDT
stock today. it's all because of apple. julia is in los angeles. >> apple wants to make money off of when users use the devices which include listening to pandora. a preinstalled apple radio app would pose a more serious threat compared to others. pandora's free with ad streaming dominates the online radio market. news of apple's interest in this space is being called a negative saying it's surprising considering their very high royalties. but apple is interested because it wants to keep all music listening in it's eco system. the mobile revenue lags pandora's and an e-marketer says it predicts that pandora adds will grow more than three times. neither apple or pandora will comment on this news that apple is interested in moving into this space. >> julia, spotify is not publicly traded, but would they face the same challenges? >> i think any time a giant like apple moves into your territory if is a bad thing. so far, apple has been so focused, i think it has allowed companies like pandora and spotify to grow. i think the entry of apple would definitely prove a challenge. >> got it, t
CNBC
Sep 4, 2012 9:00am EDT
national democratic convention will join us. the current mayor of los angeles live from charlotte. stay with us. my volt is the best vehicle i've ever driven. i bought the car because of its efficiency. i bought the car because i could eliminate gas from my budget. i don't spend money on gasoline. it's been 4,000 miles since my last trip to the gas station. it's pretty great. i get a bunch of kids waving at me... giving me the thumbs up. it's always a gratifying experience. it makes me feel good about my car. i absolutely love my chevy volt. ♪ this country was built by working people. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm proud of that. making real things... for real. ...that make a real difference. ♪ we create easy-to-use, powerful trading tools for all. look at these str
CNBC
Sep 21, 2012 1:00pm EDT
. that is going to be a wonderful feature to have in the science museum in downtown los angeles. >> it's spectacular. every american looking at that, that's just a beautiful picture. we should be very proud. >> indeed. we'll keep monitoring that. it is certainly worth as many looks as we can get at it. >>> there's a big story out of brooklyn today as well. the nets, jay-z, barbara streisand and more. they're all moving in. brian schactman is, too, he's on the case. >>> they say that madison square garden is the world's most famous arena. the barclays center might be the coolest. from theherringbone court to the all-black seats. why msg and the knicks might be a little nervous. >>> big news for the metals today as well. technicians having a field day. see what they're saying about what the charts may mean for prices. that's coming up next. e eye. >>> let's close out the week on the metal market. it's been one hell of a week of course for metal. we saw that in particular with the sort of comments we had -- sharon epperson, just tell us how we're closing out there. >> it has been a really v
CNBC
Sep 20, 2012 1:00pm EDT
to the "los angeles times," his santa monica home was broken into last week while he was away. items stolen include several high-end paintings, a 2010 red porsche carrera, five luxury watches, wine and cash. >> simon, the iconic painting "the scream" became the most expensive artwork ever sold at auction fetching nearly $120 million when it sold at s sutheby's last may. leon black, also incidentally, sits on the board of trustees at the museum of modern art in new york. so perhaps it's no surprise that "the scream" will go on view at the moma starting october 24th for a six-month period giving visitors a very rare chance to see the painting often referred to as the mona lisa of modern art. >>> if there was a stock market that traded celebrities, which would you sell and which would you short? cnbc's jane wells is live in l.a. and she has a great list. >> i've always wanted to do that on television. you know, we usually like to do more than just a long or short trade. we're going to talk about paris trades, maybe a strangle, a buy limit order. i like to look at three or four ce
CNBC
Sep 24, 2012 2:00pm EDT
environment, san francisco, los angeles, manhattan. those people are not leaving a wide area. they're not driving across the country, brian. for the volt, primarily most of the sales for the volt are out in california. that's where the early adopters have been for this vehicle. i think 1 in 4 have sold out in california. the sales are primarily located out there. it's a wider base for the volt than it is for the leaf. so far at least. still, the sales have not been anywhere close to what these two companies originally promised. >> let's bring in jessica caldwell of edmunds.com. listen, we're not picking on chevy or toyota here. the volt, when i look at it, 46,000 bucks. yeah, you got some credits there. it's expensive. is that the main reason people aren't buying it or is it something else? >> i think whenever you introduce something that's a little off the norm, not something people are used to, i think they're weary. the car hasn't been out for years and years so i think it takes time for the market to adapt. certainly when there was favorable financing for the car, which launched in ma
CNBC
Sep 17, 2012 7:00pm EDT
" published this story, romney's tax plan fails to gain a foot hold. romney was in los angeles talking to the u.s. hispanic chamber of commerce, obama campaigning in battleground ohio. cnbc eamon javers joins us now with some of the details. good evening. >> reporter: campaigning in ohio today president barack obama told voters there about the federal government about the wto complaint against the chinese government. the president saying chinese subsidy for the auto industry will hurt american workers. >> these are subsidies that hurt american men and people on the assembly lines in ohio, michigan and across the midwest. >> reporter: mitt romney spent part of his day today pushing against media reports that his campaign is in disarray including in this interview he conducted earlier today with telemundo. >> i've got a terrific campaign. my senior campaign people work extraordinarily well together. i work well with them. our campaign is doing well. >> reporter: but you could see some strategy in the romney campaign. injecting more specifics of spending cuts that he would like to see int
CNBC
Sep 5, 2012 9:00am EDT
much. julia boorstin in los angeles. our capital markets editor gary kaminsky has been talking facebook for a few days now. mostly the phrase you've been repeating, gary, is stock for sale? >> yeah. carl, with apologies to my mother because she'll be mad i promised back on july 30th we weren't going to be talking about facebook anymore. you know what? >> how can you not? >> it just keeps airing. a lot of it has to do with the size of the transaction but also the huge exposure that this ipo, depending on what side of the table you were on got. i want to go back to a discussion in late july. i want to remind viewers of something we talked about after the report of the first quarter. let's play the tape on july 30th. thanks. >> the job of an investment banker is to make certain when you price a deal you are going to create a level where you give, deliver the type of expectations where you surprise on the up side. you want to under promise and over deliver on that first quarter. so no opinions here. these are just the numbers. you want a confirmation that the price has over priced
CNBC
Sep 21, 2012 6:00am EDT
. i described it as though, imagine you're on an airplane that's flying from here to los angeles, you're probably going to get there okay but if you hit an air pocket and meaning if the economy goes down, there's not an easy way to reverse it. monetary policy is less effective because when you buy a bond, when the federal reserve makes a purchase, that has the effect of giving money to somebody who won't put that money into something like that bond. and that money does not easily go to people who spend it, that's a balance between monetary and fiscal policy and i worry about the policymakers getting that balance right. that's a possibility and a scary possibility. other than that, i think the most likely situation is we will fly successfully from here to los angeles essentially but we have longer risks. you need a balance between austerity and sometimes debt restructurings, and monetization. if you have too much monetization, you're going to have an inflationary problem. you have too little stimulation, monetary and fiscal policy, you're going to have a depression. being in the betting b
CNBC
Sep 25, 2012 9:00am EDT
los angeles the company unveiled its super charger network for recharging model-s car batteries. these tesla super-chargers will provide owners with a quick charge when they're on long trips. by the way, a prequick charge, the model-s tesla super-chargers are already operating in six locations in california. they're expecting to expand rapidly across the country. >> within two years, we'll cover almost the entire united states with super-chargers. you'll be able to travel practically anywhere. >> the idea here is that they are answering the one problem that a lot of people have with electric cars, which you are range-bound. you can't go across the country if you want to. tesla says that will not be the case. take a look at shares, up 45%, carl, since the ipo a little over two years ago. i remember at the time, we were in times square and the stock had a nice pop off at the beginning. i remember talking to a number of people and they said, those people are fools. they're buying into this company and it's going to come crashing down. two years later it's up 45%. >> you're in times
CNBC
Sep 18, 2012 9:00am EDT
. thanks so much for that, jane wells, from los angeles. speaking of food costs we can't forget to mention it's officially nfl season. don't brag, jane. what effect might it have on the bev makers and sellers? jonathan phoenixy, a senior analyst at montgomery scott. guys, good morning to both of you. >> good morning. >> good morning. >> let's start broadly. the dynamics jane spelled out regarding costs, are they offset seasonally by more consumption in the fall? does football season make a difference? >> it doesn't make that much difference in terms of consumption. if you look at where salty snacks are sold, it's pretty everybodily distributed throughout the year. there's a lot more soft drinks sold in the summer than the nal months. so i mean no. the point that has to be made also is some of the commodities are going down and some of the commodity is going up. so aluminum costs are down, plastic costs are down. thankfully they're not buying any chicken, coke, or pepsi, so there's a little bit of an offset right now. >> well said. and that's why some are on your buy left, is that c
CNBC
Sep 21, 2012 9:00am EDT
to los angeles, you're probably going to get there okay but if you hit an air pocket and meaning if the economy goes down there is not an easy way to reverse it. >> be careful, central banks may also be containing the recovery, because of the distortions they impose. >> this is a cult, and in a cult you wait. this is not, it doesn't seem like it's competitive. like i can't get the phone i'm going to go to switch to another phone. that's why i say this is a phenomena that you start thinking now i know how apple got to $704. they have the right pricing, the right merchandise at the right time but these are remarkable. they're on fire, and it does remind you that if you take, if you short kors which people did off of burberry you're getting your hand handed to you today. [ bell ringing ] >> all right, there's the opening bell. >> there's not a better investment story out there. this is the biggest product category we've actually ever seen and just happens to be in the most profitable product category for apple, so the setup is very good for the next couple months. >> i don't think main
CNBC
Sep 7, 2012 9:00am EDT
in los angeles with much more on this story. julia? >> pandora's domination of internet radio could come to an end if apple launches a rival treem streaming radio app. it hasn't been a threat to pandora which is entirely focused on apps. 72% market share and 6% of the total radio market. pandora's free ad radio service and nearly twice as many people have radio apps on their phones as music store apps. pandora's stock is plummeting because half of its listeners comes from apple's devices. apple's advantage is that in addition to being preinstalled on its devices, sources tell me apple is negotiating with record labels to give it more flexibility and higher margins than pandora which has yet to report a profit. it wants to keep people inside the apple ecosystem for all of their music needs. apple can send people to buy songs from itunes. it currently lags pandora. pandora will grow mobile ad revenue to more than three times apple's by 2014. when it comes to this rumor here and this report that sources are telling me about, both pandora and apple say they do not report on rumors but w
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